VANCOUVER, BC, June 7, 2021 /CNW/ - Defense Metals Corp.
("Defense Metals") (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is
pleased to announce that having been invited by the U.S Embassy in
Ottawa, it will be attending the
2021 SelectUSA Investment Summit to be held virtually June 7-11, 2021.
Defense Metals is currently advancing the road accessible
Wicheeda Critical Rare Earth Element (REE) Property, which is
located close to infrastructure approximately 80 kilometres
northeast of Prince George, British
Columbia (BC). The Wicheeda project has indicated
mineral resources of 4,890,000 tonnes averaging 3.02% LREO (Light
Rare Earth Elements) and inferred mineral resources
of 12,100,000 tonnes averaging 2.90% LREO1.
The Company continues to rapidly advance the Wicheeda REE
deposit on multiple fronts. Highlights of current, ongoing and
planned work during 2021 include:
- Plans for a minimum 2,000 metre and up to 5,000 metre resource
expansion and definition drill campaign (see Defense Metal news
release dated May 26, 2021)
- Continuation of ongoing environmental baseline monitoring
program initiated approximately one year ago (see Defense Metal
news release dated July 8,
2020)
- Nearing completion of infill hydrometallurgical optimisation
test-work (see Defense Metal news release dated May 11, 2021)
- Preparation of high-grade REE mineral concentrate samples for
shipment and evaluation by multiple potential future offtake
partners or refineries (see Defense Metal news release dated
April 12, 2021)
- Resource optimization and economic scoping studies preparatory
to a Preliminary Economic Assessment (PEA)(see Defense Metal
news release dated March 30,
2021)
The signing of the U.S.-Canada Action Plan on Critical Minerals
Cooperation has fostered dialogue between Canada and U.S.A like no other time before. Together
Canada and the USA continue identifying vulnerabilities and
challenges in supply chains and facilitating discussions between
Canadian mining producers of critical minerals and rare earth
elements and U.S. Interagency groups to create a more resilient and
safe North American supply chain.
With a renewed U.S.-Canada
bilateral dialogue underway, and given the geographic proximity,
the 2021 SelectUSA Investment Summit will take a closer look
at opportunities for Defense Metals to localize its potential
upstream operations near a U.S. end-user to create more resilient
access to various North American end users and make the operation
less susceptible to trade disruptions, while adopting responsible
sourcing and sustainable practices in our
industries.
_______________________________________
1 Technical Report on the Wicheeda Property,
British Columbia, effective
June 27, 2020 and prepared by APEX
Geoscience Ltd. (Steven J. Nicholls,
B.A. Sc., MAIG and Kristopher J. Raffle, B.Sc., P.Geo.) is
available under Defense Metals Corp.'s profile on SEDAR
(www.sedar.com)
To learn more about SelectUSA, visit https://www.selectusa.gov/
or go to www.selectusasummit.us.
Craig Taylor, CEO of Defense
Metals, stated: "Defense Metals is excited to attend
the 2021 SelectUSA Investment Summit. We will take
full advantage of this unique opportunity to meet with advance a
potential United States growth
strategy and advance conversations with U.S. Interagency players,
including the U.S. Department of Energy, the Export-Import Bank of
the United States, and the
Department of Defense, to continue to develop its place as a
critical player in the U.S. industrial metals industry."
About the Wicheeda REE Property
The 1,708 hectare Wicheeda REE Property, located approximately
80 km northeast of the city of Prince
George, British Columbia, is readily accessible by
all-weather gravel roads and is nearby to infrastructure, including
power transmission lines, the CN railway and major highways.
Geologically, the property is situated in the Foreland Belt and
within the Rocky Mountain Trench, a major continental geologic
feature. The Foreland Belt contains part of a large alkaline
igneous province, stretching from the Canadian Cordillera to the
southwestern United States, which
includes several carbonatite and alkaline intrusive complexes
hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE)
deposits.
Qualified Person
The scientific and technical information contained in this news
release as it relates to the Wicheeda REE Property has been
reviewed and approved by Kristopher J. Raffle, P.Geo. (BC)
Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and
a "Qualified Person" as defined in National Instrument 43-101 –
Standards of Disclosure for Mineral Projects. Mr.
Raffle verified the data disclosed which includes a review of the
analytical and test data underlying the information and opinions
contained therein.
About Defense Metals Corp.
Defense Metals Corp. is a mineral exploration company focused on
the acquisition of mineral deposits containing metals and
elements commonly used in the electric power market, military,
national security and the production of "GREEN" energy
technologies, such as, high strength alloys and rare earth magnets.
Defense Metals has an option to acquire 100% of the 1,708 hectare
Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada.
Defense Metals Corp. trades in Canada under the symbol "DEFN" on the TSX
Venture Exchange, in the United
States, under "DFMTF" on the OTCQB and in Germany on the Frankfurt Exchange under
"35D".
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking"
Information
This news release contains "forward–looking information or
statements" within the meaning of applicable securities laws, which
may include, without limitation, statements relating to the
SelectUSA Investment Summit and the expected outcomes and
engagement with U.S. agencies, plans for the Wicheeda Property, the
planned drilling, completion of test-work, shipment of concentrate
samples, completion of PEA, continuation of environmental, the
advancement and development of the Wicheeda Property, the
technical, financial and business prospects of the Company, its
project and other matters. All statements in this news release,
other than statements of historical facts, that address events or
developments that the Company expects to occur, are forward-looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Such statements and
information are based on numerous assumptions regarding present and
future business strategies and the environment in which the Company
will operate in the future, including the price of rare earth
elements, the ability to achieve its goals, that general business
and economic conditions will not change in a material adverse
manner, that financing will be available if and when needed and on
reasonable terms. Such forward-looking information reflects the
Company's views with respect to future events and is subject to
risks, uncertainties and assumptions, including those filed under
the Company's profile on SEDAR at www.sedar.com. While such
estimates and assumptions are considered reasonable by the
management of the Company, they are inherently subject to
significant business, economic, competitive and regulatory
uncertainties and risks. Factors that could cause actual results to
differ materially from those in forward looking statements include,
but are not limited to, continued availability of capital and
financing and general economic, market or business conditions,
adverse weather conditions, failure to maintain or obtain all
necessary government permits, approvals and authorizations, failure
to maintain community acceptance (including First Nations),
decrease in the price of rare earth elements, the impact of
Covid-19 or other viruses and diseases on the Company's ability to
operate increase in costs, failure to obtain equipment, litigation,
and failure of counterparties to perform their contractual
obligations. The Company does not undertake to update
forward–looking statements or forward–looking information, except
as required by law.
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SOURCE Defense Metals Corp.